From brownfield to green lung
On the Heirbrug in Lokeren, a residential area with a green rest and meeting place of 2.4 ha will be located. The project is located between Vijgenstraat, Ploegstraat, Heirbrugstraat and Durmedijk, 1 km walking distance from the main market in Lokeren. The site was formerly home to a hair-cutting factory.
The mercury and fuel oil contamination found was excavated. Before that, the buildings had to be completely demolished. After the contaminated land has been removed, the necessary utilities and roads will be constructed. Subsequently, the subdivision of the land will take place. By means of a building lease to the group company Loyd nv, 57 houses and 30 flats will be built on the site. In a first phase, 24 houses and 11 flats will be built for a total investment value of approximately 26 million euros. The other plots will be licensed and sold later in one or two phases. Commercialisation of the first homes will start in mid-January 2022. Full sales will be achieved by the end of 2024. The future residential development – with park – should become an added value for the city of Lokeren and the Heirbrug district. The neighbourhood needs open, green space: many children and young people from various population groups live there. Besides the developer Santerra, the city of Lokeren and the social housing company De Tuinwijk also own the area. The total redevelopment will therefore take place in consultation with them.
PMV’s role
PMV provided a mortgage loan of about €2 million for the remediation and infrastructure works on the land to be subdivided.
The project in numbers
The total investment comprises about €26 million of which PMV will provide about €2 million through a mortgage loan to the project company Heirbrug nv.
Project partners
Santerra nv, based in Boortmeerbeek, is one of Belgium’s first brownfield developers. Since 2002, Santerra has been active in the remediation of discharged factory sites to repurpose them into new residential developments and SME zones. When remediating, the works are carried out using the Achilles Certificate, a management system established by OVAM for carrying out soil remediation works. Santerra has already carried out a dozen small and larger projects in Flanders.
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